Almirall, S.A.: Update to Discussion of Key Credit Factors
Almirall's Ba3 rating reflects a rebasing of EBITDA following operational problems in the US, which is partly offset by conservative financial policiesAlma Market is mainly engaged in wholesale and retail trading. Co.'s segments are the following: retail sale segment, wholesale trade segment, and investment activities segment. Retail sale segment encompasses a wide range of products and is conducted by use of the trade facilities owned Co. and its subsidiaries. Wholesale trade segment trades with chemicals, plastic raw materials, films, plastic materials, reagents, carpeting, plastic processing machines and others. Investment activity segment is the activity, where assets (investment property) bring profits due to rent or are maintained by Co. due to forecasted increase in the market value and income from their sale.
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